Bertelsmann India Investments (BII) led the whole money raising event where over $32 million was raised in series B funding from investors. Lendingkart is an Online loan platform.

“With BII onboard, we are looking forward to leverage its deep knowledge of global financial products and Internet businesses,” Harshvardhan Lunia, co-founder and CEO, Lendingkart Group, said in a statement.

The company after having raised a massive amount in the second tranche funding claimed that BII had led the new tranche of funding in which big investors like Darrin capital management had paricipated along with existing investors such as Saama Capital, Mayfield India and Indian Quotient. The company also stated that with Financial Service leaders like Arvato Financial Solutions as a part of the investing group, Bertelsmann has certainly brought forth a fresh angle to the mundane digital forum and data analysed risk assessment. It will also help Lendingkart to pose themselves as the leading lending platform in the country.

With the recent round of funding, Lendingkart has over 260 crores to its name. It has also helped to boost their tech platform and given them a sturdy infrastructure to enhance mobile capabilities.

The Managing director of BII said that they were proud to be associated with the LendingKart group to create a new generation of lending firm in the country. They believe that through lending money to the deserving, they will get to see a lot of new innovations in the country.

Lendingkart aims to expand its horizon, tap the lending market and emrge as a lending leader in the country by expanding its presence further across different regions of India. It has successfully organised loans to clients across 130 cities in 22 states and recorded a successful growth of 20% monthly in loan origination. In the future, Lendingkart also aims to facilitate loans to SMEs.